Goergen, Marc; Renneboog, Luc - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 2, pp. 248-260
This paper investigates whether investment spending of firms is sensitive to the availability of internal funds. Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are not independent. The relation between corporate...